Why are Conservatives Blocking CPP & QPP Expansion?

Irene Mathyssen London—Fanshawe, ON: Mr. Speaker back in 2010, the Minister of Finance said he believed we should consider a modest, phased-in and fully funded enhancement to defined benefits under the Canada pension plan. However, then Conservatives flip-flopped, backtracked and set arbitrary criteria for provincial consensus. The required level of provincial support already exists. Why are Conservatives adding new and blatantly unnecessary roadblocks to essential CPP and QPP expansion?

Ted Menzies—Minister of State (Finance): Mr. Speaker, discussions continue between the provinces and the federal government, because it is shared jurisdiction with the Canada pension plan. Any changes made to that require consensus with the provinces*. The opposition does not seem to be able to understand that.

In the meantime, we had consensus amongst all of the finance ministers to move forward with the pooled registered pension plan, and that is what we have done. Alberta, Saskatchewan and British Columbia have all tabled their own legislation. We encourage the opposition to actually get on board and support retirement income for Canadians.

 

 

*Note, changes require a consensus, but only 2/3rds, not unanimous consent to move forward, as noted by CBC, the Globe & Mail, and CARP:

http://www.cbc.ca/news/politics/story/2012/12/17/pol-cp-finance-ministers-meet-monday.html

http://www.carp.ca/2012/12/18/now-was-the-best-time-to-act-on-cpp-enhancement-political-landscape-may-change-by-june/

http://www.theglobeandmail.com/news/politics/flaherty-seeks-unity-on-reform/article6404747/